December gold closed sharply higher on Tuesday and above September's high thereby renewing this year's rally into uncharted territory. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If December extends today's rally into uncharted territory, upside targets will now be hard to project. Closes below the reaction low crossing at 985.50 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1045.00. First support is the 10-day moving average crossing at 1006.60. Second support is the reaction low crossing at 985.50.

December silver closed sharply higher on Tuesday and the high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If December extends today's rally, September's high crossing at 17.690 is the next upside target. Closes below the reaction low crossing at 15.760 would confirm that a short-term top has been posted. First resistance is today's high crossing at 17.440. Second resistance is September's high crossing at 17.690. First support is the 10-day moving average crossing at 16.481. Second support is last Monday's low crossing at 15.760.

December copper closed higher due to short covering on Tuesday as it consolidated some of last week's decline. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 266.00 are needed to confirm that a short-term top has been posted. Closes above the 20-day moving average crossing at 280.19 would temper the near-term bearish outlook in the market. First resistance is the 20-day moving average crossing at 280.19. Second resistance is the reaction high crossing at 295.50. First support the reaction low crossing at 266.00. Second support is last Friday's low crossing at 264.00.

December coffee closed sharply higher on Tuesday and above the 20-day moving average crossing at 13.09 signaling that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, September's high crossing at 13.83 is the next upside target. Closes below the 10-day moving average crossing at 12.93 would temper the near-term friendly outlook in the market.

December cocoa closed lower due to profit taking on Tuesday as it consolidated some of Monday's rally. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off August's low, weekly resistance crossing at 32.90 is the next upside target. Closes below Monday's low crossing at 29.67 would confirm that a short-term top has been posted.

March sugar closed lower on Tuesday and the mid-range close set the stage for a steady opening on Wednesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 23.70 would confirm that a short-term top has been posted. If March renews last week's rally, September's high crossing at 26.25 is the next upside target.

December cotton closed higher due to short covering on Tuesday and above the 20-day moving average crossing at 62.61. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are turning neutral hinting that sideways trading is possible near-term. From a broad perspective, December needs to close above the reaction high crossing at

65.47 or below the reaction low crossing at 54.77 to confirm a breakout of this year's trading range and point the direction of the next trending move.

December Corn closed up 16 3/4-cents at 3.58 1/4.

December corn gapped up and closed higher on Tuesday as inflationary concerns were revived and money began actively flowing into the equity and commodity markets. Added support came from concerns that a significant amount of this year's corn crop is not mature with a major freeze event knocking on the door of the Midwest. Monday's crop progress report showed that a sizable amount of this year's corn crop remains vulnerable to some degree of frost damage if it freezes next week. Commodity Weather Group estimates that 60% of North Dakota's corn will still be immature and vulnerable. The same can be said for 50% of Wisconsin's corn, 40% of Minnesota and Michigan corn, 35% of Illinois corn, 30% of Indiana and Ohio corn, 20% of the corn in South Dakota and Nebraska and 10 % of the corn in Iowa and Missouri. Yield loss will vary, but we could see widespread problems with light test weight and the very slow to dry down of this year's crop. Our storage and drying infrastructure will be put to the test. Profit taking tempered early session gains and the low-range close sets the stage for a steady to lower opening on Wednesday. Despite today's rally, stochastics and the RSI remain overbought and are turning neutral to bearish hinting that a double top with August's high might have been posted today. If December extends today's rally, August's high crossing at 3.75 1/4 is the next upside target. Closes below the 20-day moving average crossing at 3.31 1/2 would confirm that a double top has been posted. First resistance is today's high crossing at 3.69 3/4. Second resistance is August's high crossing at 3.75 1/4. First support is the 10-day moving average crossing at 3.39 3/4. Second support is the 20- day moving average crossing at 3.31 1/2.

December wheat closed up 17 1/2-cent at 4.60 1/4.

September wheat gapped up and closed above the 20-day moving average crossing at 4.57 1/4 on Tuesday as it consolidated some of last week's decline. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. Closes above the reaction high crossing at 4.80 are needed to confirm that a short-term low has been posted. If December extends this summer's decline, weekly support crossing at 4.33 is the next downside target. First resistance is the reaction high crossing at 4.74. Second resistance is the reaction high crossing at 4.80. First support is last Wednesday's low crossing at 4.39 1/2. Second support is weekly support crossing at 4.33.

December Kansas City Wheat closed up 13 3/4-cents at 4.75 1/2.

December Kansas City Wheat closed higher on Tuesday and above the 20-day moving average crossing at 4.72 1/4. Profit taking tempered early session gains and the low-range close sets the stage for a steady to lower opening on Wednesday.

Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends this summer's decline, monthly support crossing at 4.50 then 4.33 are the next downside targets. Closes above the reaction high crossing at 4.93 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at

4.88 1/2. Second resistance is the reaction high crossing at 4.93. First support is last Friday's low crossing at 4.58 3/4. Second support is monthly support crossing at 4.50.

December Minneapolis wheat closed up 15 1/2-cents at 4.96 1/2.

December Minneapolis wheat closed higher due to short covering on Tuesday as it extends September's narrow trading range.

The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December renews this summer's decline, weekly support crossing at 4.64 is the next downside target. Closes above the reaction high crossing at 5.12 3/4 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 5.09 1/4. Second resistance is the reaction high crossing at 5.12 3/4. First support is last Wednesday's low crossing at 4.77. Second support is weekly support crossing at 4.64.

SOYBEAN COMPLEX

November soybeans closed up 25-cents at 9.10.

November soybeans gapped up and closed higher on Tuesday as they followed corn higher. Buy stops were triggered as prices pushed above resistance at 9.00, which accelerating today's rally. Producer selling and profit taking increased as the dollar came off its lows and the mid-range close sets the stage for a steady opening on Wednesday. Today's close above 9.00 is a potential first sign that a seasonal low might be in place. Despite today's rally, gains might be limited ahead of Friday's crop report. A pre-report trade survey showed that the trade expects that USDA will raise this year's soybean crop to 3.291 billion bushels with a yield of 42.9 bushels per acre. The trade expects the USDA's estimate of this year's ending stocks to come in at

257 million bushels, up 37 million from September. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If November extends last week's decline, the reaction low crossing at 8.38 is the next downside target. Closes above the 20-day moving average crossing at 9.21 3/4 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 9.21 3/4. Second resistance is gap resistance crossing at 9.36. First support is Monday's low crossing at 8.79. Second support is the reaction low crossing at 8.38.

December soybean meal closed up $7.00 at $277.50.

December soybean meal gapped up and closed higher due to short covering on Tuesday as it consolidated some of last Friday's decline. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends last Friday's decline, July's low crossing at 266.90 then the reaction low crossing at 2.58 1/2 are the next downside targets. Closes above the 20-day moving average crossing at 282.20 would confirm that a double bottom with July's low has been posted. First resistance is the 20-day moving average crossing at 282.20. Second resistance is the reaction high crossing at 287.80. First support is Monday's low crossing at 267.00. Second support July's low crossing at 266.90.

December soybean oil closed up 41 pts. at 34.26.

December soybean oil gapped up and closed higher on Tuesday as it consolidated some of last week's decline. Profit taking tempered early session gains and the low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If December renews the decline off August's high, the reaction low crossing at 33.75 is the next downside target. Closes above the reaction high crossing at

35.65 are needed to confirm that a short-term low has been posted. First resistance is last Thursday's high crossing at 34.83.

Second resistance is the reaction high crossing at 35.65. First support is last Tuesday's low crossing at 33.29. Second support is July's low crossing at 32.82.

December hogs closed up $1.52 at $49.13.

December hogs closed higher due to short covering on Tuesday as it consolidated some of the decline off September's high. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If October extends the decline off September's high, the reaction low crossing at 44.75 is the next downside target. Closes above last Tuesday's high crossing at 50.72 would temper the near-term bearish outlook in the market. First resistance is today's high crossing at 50.05. Second resistance is last Tuesday's high crossing at 50.72. First support is Monday's low crossing at 47.50. Second support is the reaction low crossing at 44.75.

February bellies closed up $2.70 at $80.40.

February bellies posted a key reversal up on Tuesday as it consolidated some of the decline off September's high. The high- range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If February extends today's decline, August's low crossing at

74.45 is the next downside target. Closes above the 20-day moving average crossing at 83.42 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 80.90. Second resistance is the 20-day moving average crossing at 83.42. First support is today's low crossing at 76.40. Second support is August's low crossing at 74.45.

December cattle closed down $0.35 at 83.55.

December cattle closed lower on Tuesday as it extended Monday's breakout below September's low. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off May's high, psychological support crossing at 80.00 is the next downside target. Closes above the 20-day moving average crossing at 85.55 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 85.03. Second resistance is the 20-day moving average crossing at 85.55. First support is today's low crossing at 83.50. Second support is psychological support crossing at 80.00.

November feeder cattle closed down $0.55 at $92.75.

November Feeder cattle closed lower on Tuesday and below the 75% retracement level of the 2008-2009-rally crossing at 93.08. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If November extends today's decline, the 87% retracement level crossing at 91.11 is the next downside target. Closes above the 20-day moving average crossing at 97.06 are needed to confirm that a short-term low has been posted.